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Econometrica publishes original articles in all branches of economics - theoretical and empirical, abstract and applied, providing wide-ranging coverage across the subject area. It promotes studies that aim at the unification of the theoretical-quantitative and the empirical-quantitative approach to economic problems and that are penetrated by constructive and rigorous thinking. It explores a unique range of topics each year - from the frontier of theoretical developments in many new and important areas, to research on current and applied economic problems, to methodologically innovative, theoretical and applied studies in econometrics.

The "moving wall" represents the time period between the last issue
available in JSTOR and the most recently published issue of a journal.
Moving walls are generally represented in years. In rare instances, a
publisher has elected to have a "zero" moving wall, so their current
issues are available in JSTOR shortly after publication.
Note: In calculating the moving wall, the current year is not counted.
For example, if the current year is 2008 and a journal has a 5 year
moving wall, articles from the year 2002 are available.

Terms Related to the Moving Wall

Fixed walls: Journals with no new volumes being added to the archive.

Absorbed: Journals that are combined with another title.

Complete: Journals that are no longer published or that have been
combined with another title.

Abstract

The first part of this paper considers the interaction between productive and nonproductive savings in a growing economy. It employs an overlapping generations model with capital accumulation and various types of rents, and gives necessary and sufficient conditions for the existence of an aggregate bubble. The second part is a series of thoughts on the definition, nature, and consequences of asset bubbles. First, it derives some implications of bubbles for tests of asset pricing. Second, it demonstrates the specificity of money as an asset and shows that there is a fundamental dichtotomy in its formalization. Third, it discusses inefficiencies of price bubbles. Fourth, it shows that the financial definition of a bubble is not satisfactory for some assets.